"3-D printers" can reduce the cost of producing stuff because they:
A. Eliminate massive factory costs
B. Reduce transportation costs significantly
C. Make use of low-cost materials and low-energy requirements
D. Exploit huge economies of scale in production
D. Exploit huge economies of scale in production
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Which of the following examples best illustrates the concept of derived demand?
A) An increase in the price of beef results in an increase in the demand for fish. B) The higher the demand for automobiles, the greater the demand for steel. C) The demand for Pepsi varies directly with the price of Coke. D) The demand for a good varies inversely with its price.
Appendix: The Identification Problem in the development of a demand function is a result of:
a. the variance of the demand elasticity b. the consistency of quantity demanded at any given point c. the negative slope of the demand function d. the simultaneous relationship between the demand and supply functions e. none of the above
Given the prevalence of electronic payment mechanisms like credit cards and debit cards and the safety of checks, why is the amount of currency in the hands of the public increasing?
What will be an ideal response?
Refer to the information provided in Figure 26.4 below to answer the question(s) that follow.
Figure 26.4Refer to Figure 26.4. Suppose the economy is at Point A, an oil price decrease could move the economy to Point
A. E. B. B. C. C. D. D.